Advancements In Healthcare Fuels Industrial Gases Market: Key Factor Driving The Growth In The Industrial Gas Market

The Industrial Gas Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Current Industrial Gas Market Size and Its Estimated Growth Rate?
The market size for industrial gas has seen a remarkable expansion in the past few years. It's projected to escalate from $166.67 billion in 2024 to approximately $190.19 billion in 2025, boasting a compound annual growth rate (CAGR) of 14.1%. The surge in growth during the historic period is credited to factors such as the proliferation of manufacturing and industries, progression in the energy sector, needs of the healthcare industry, global trade and globalization, regulatory standards for the environment, and infrastructure development.

The size of the industrial gas market is projected to experience a significant expansion in the forthcoming years. By 2029, it is predicted to reach $308.83 billion, rising at a compound annual growth rate (CAGR) of 12.9%. The enhancement in this forecast period owes to elements such as the escalating transition to green energy, developments in the electronics industry, carbon capture and storage, hydrogen economy maturation, and growth in the space exploration and aerospace industry. The forecast period is also likely to witness major trends, including growth in the biotechnology and pharmaceutical sector, the emergence of advanced manufacturing technologies, high-tech advancements, expansion of the medical gases market, and the widening scope of the liquefied natural gas (LNG) market.

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How Are Emerging Segments Shaping the Industrial Gas Market Landscape?
The industrial gas market covered in this report is segmented -

1) By Type: Nitrogen, Oxygen, Carbon Dioxide, Hydrogen, Other Industrial Gas
2) By Mode of Supply: Bulk, Packaging, Pipe Line
3) By Packaging: Cylinders, Bottles, Canisters, Cartridges, Cryogenic Tanks Or Vessels, Other Packagings
4) By End User Industry: Chemicals, Metallurgy, Manufacturing, Food And Beverage, Healthcare, Other End-User Industries

Subsegments:
1) By Nitrogen: Liquid Nitrogen, Gaseous Nitrogen
2) By Oxygen: Liquid Oxygen, Gaseous Oxygen
3) By Carbon Dioxide: Liquid Carbon Dioxide, Gaseous Carbon Dioxide
4) By Hydrogen: Gaseous Hydrogen, Liquid Hydrogen
5) By Other Industrial Gas: Argon, Acetylene, Helium, Neon, Other Specialty Gases

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Which Growth Factors Are Influencing Industrial Gas Market Expansion?
The healthcare sector is witnessing new advancements, focusing more on improving the quality of life and promoting health. Not only oxygen but other industrial gases like nitrous oxide, nitric oxide, hydrogen, helium, and xenon are being readied for use in pharmacy-related products. The use of induced pluripotent stem cells (IPS) in therapeutic procedures and the invention of new drugs adds significant value to the industry. Methods involving gases like carbon dioxide and liquid nitrogen are essential for cell and tissue growth and conservation, thereby boosting the demand for high-quality industrial gases.

Who Are the Dominant Players Across Different Industrial Gas Market Segments?
Major companies operating in the industrial gas market include Asia Technical Gas Co. Pte. Ltd., Universal Industrial Gases Inc., BASF SE, Mitsubishi Chemical Holdings Corporation, Linde GmbH, Air Liquide S.A.S., Air Products and Chemicals Inc., Showa Denko K.K., Taiyo Nippon Sanso & Co. Ltd., Air Water Inc., Airgas Inc., Iwatani Corporation, Messer Group GmbH, Matheson Tri-Gas Inc., SOL S.p.A., Nippon Gases, Ellenbarrie Industrial Gases, Yingde Gases Group Co. Ltd., SIAD Group, Blue Star Limited, Gulf Cryo, nexAir LLC, Sapio Group, PT Samator Indo Gas TBK, SIG Gases Berhad, Gases Plus, Bhuruka Gases Limited

What Are the Latest Developing Trends in the Industrial Gas Market?
Companies that deal in industrial gases are progressively providing carbon dioxide, which has been emitted from industrial centers, to greenhouses. This CO2, originally from power plants and refineries, is stored locally in vacant natural gas fields and capacities and then transported to greenhouses via pipelines. It serves as an efficient CO2 recycling method which curbs the carbon impact of the greenhouses. For instance, Linde acquires carbon dioxide from the Shell oil refinery close to Rotterdam, Netherlands and then funnels this into over 580 greenhouses in both Rotterdam and Amsterdam. Through this approach, the burning of 115 million cubic meters of natural gas is averted along with the release of 205,000 tons of CO2 annually.

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Which Geographic Regions Are Expected to Dominate the Industrial Gas Market in the Coming Years?
Asia-Pacific was the largest region in the industrial gas market in 2024. North America was the second-largest region in the industrial gas market. The regions covered in the industrial gas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Industrial Gas Market?
2. What is the CAGR expected in the Industrial Gas Market?
3. What Are the Key Innovations Transforming the Industrial Gas Industry?
4. Which Region Is Leading the Industrial Gas Market?

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